It would be easy to view Brian Moynihan's promotion to chief executive as a consolation prize for Bank of America Corp., but a consensus is taking root that he is the right person to manage the company right now.

Unwilling candidates thwarted B of A's efforts to hire an outsider who would please shareholders and regulators seeking a change agent, and that led to Moynihan's ascent this week. Yet several analysts and investors argued that the company has sound underlying businesses and needs a process-minded executive like Moynihan to focus employees on the tasks at hand.

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